The price of electricity continues to skyrocket in Spain. The main cause is the increase in gas prices due to the war in Ukraine. This raw material is used to generate electricity in combined cycle plants, and as this energy source has been used to cover part of the demand for electricity today, the price of a megawatt hour is sky high.
Specifically, and according to data from OMIE, the regulator in Spain and Portugal, for this Tuesday, May 17, the price of electricity will be €199.36/MWha price 159.5% more expensive than the 76.82 euros/MWh of May 17, 2021.
This price, however, will only be applied to households that have contracted a regulated rate (PVPC), almost 11 million in Spain. As long as they have their bill in the , they will only notice the increase when their contract is updated annually.
At what time is electricity cheaper?
The cheapest hour of electricity will be in the afternoon. Specific, between the 2:00 p.m. and 3:00 p.m.when the electricity will be worth 160.99 euros/MWh.
At what time is electricity more expensive?
The most expensive time to turn on the light will be at dinner time, between 10:00 p.m. and 11:00 p.m.when will it cost 265.88 euros/MWh.
How much does electricity cost every hour?
– From 00 to 01 203.39 hours: euros
– From 01 to 02 195.94 hours: euros
– From 02 to 03 189.1 hours: euros
– From 03 to 04 185.05 hours: euros
– From 04 to 05 189.2 hours: euros
– From 05 to 06 202.24 hours: euros
– From 06 to 07 227 hours: euros
– From 07 to 08 237 hours: euros
– From 08 to 09 228.85 hours: euros
– From 09 to 10 209.89 hours: euros
– From 10 to 11 179.89 hours: euros
– From 11 to 12 162.04 hours: euros
– From 12 to 13 161.58 hours: euros
– From 13 to 14 161.57 hours: euros
– From 14 to 15 160.99 hours: euros
– From 15 to 16 161 hours: euros
– From 16 to 17 161.6 hours: euros
– From 5:00 p.m. to 6:00 p.m.: euros
– From 18 to 19 186.56 hours: euros
– From 19 to 20 222 hours: euros
– From 20 to 21 245.39 hours: euros
– From 21 to 22 265.88 hours: euros
Why does the price of electricity vary so much?
The main cause of the price fluctuations is that the price of gas is experiencing strong increases and its use is essential for the production of energy in the so-called combined cycle plants. Thus, any impact on the price of gas has an almost immediate impact on the price of electricity.
The current context does not help, precisely, to contain the price of gas. Russia is one of the largest suppliers of gas on the planet and the influence of the war in Ukraine has been felt in half the world, including Spain.
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